A 114-unit community in Carmichael, Calif., traded for a record-setting $203,000 per unit.
The joint venture purchased properties located in California, Washington and Michigan totaling 509 units.
As wildfire season approaches, state legislators are considering a comprehensive package, including a fund that would help keep utilities financially stable after major fires.
The company acquired Parkside Villa Apartments and Rockwell Manor Apartments in Fairfield, Calif., and intends to invest $7 million in upgrades at both properties.
Community Preservation Partners invested $35.6 million at Danbury Park Apartments, a 140-unit asset in Antelope, Calif. Ten percent of the community is now ADA compliant.